Stanford University Creates Center for Blockchain Research

A press release distributed by Stanford Engineering on June 20th revealed that Stanford computer scientists have founded a Center for Blockchain Research at Stanford University.

The initiative is led by two professors of computer science, Dan Boneh and David Mazières, and will be dedicated “to researching and understanding a technology that promises to fundamentally change how people and companies make deals and complete financial transactions over the internet,” the release states.

Boneh, who serves as the Rajeev Motwani Professor in the Stanford School of Engineering and is an expert on cryptography, commented further on the motivations behind the center, saying, “Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology.”

The release also revealed that the center will be working with industry leaders—the Ethereum Foundation, Protocol Labs and OmiseGO, among others—in addition to university scientists, with the goal of creating “best practices” for the blockchain industry.

The center will conduct research aimed at answering many of blockchain’s most pressing questions, including “how to scale the technology to billions of users; how to ensure that data is trustworthy and accurate while still keeping certain details private; and how to maintain high levels of security without using so much computing resources that the cost of electricity becomes a limiting factor for new applications,” the release states.

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